Non chi comincia, ma quel che persevera
BY JOHN CATTAU, MANAGING PARTNER OF KIRK CREEK INSURANCE SERVICES, LLC
I had the privilege of boarding the Italian Navy!s magnificent tall ship Amerigo Vespucci this summer. Traditionally associated with Leonardo da Vinci, this motto is engraved in gold letters on a plaque bolted to the mast, translated as “Not he who begins, but he who perseveres.”
It is a fitting message for sailors and entrepreneurs. Startups must also navigate a course, knowing when to tack, jibe or fall off—always on the lookout for dangers.
Starting a business takes courage and optimism. Keeping it going requires resilience. Most businesses plan carefully for customers, financing and growth, but startups should also think about what could unexpectedly knock them off course.
A few basic insurance tips can help.
Protect the people. A young company may depend heavily on one or two founders. Life and disability insurance can help protect families and the business if something happens to a key person.
Protect against mistakes and lawsuits. General liability and professional liability coverage can help prevent one claim from consuming the limited capital of a new company.
Think about cyber risk early. Even small businesses store customer information, use cloud services and transfer money. Cyber insurance can provide protection against ransomware, data breaches and fraud.
Insurance should evolve with the business. Hiring employees, leasing space or buying equipment can all create new risks.
The lesson of the Amerigo Vespucci is a good one for anyone launching a company: Starting the voyage matters. But ultimately, success belongs to those who can stay the course. Buon vento!
John Cattau, Managing Partner of Kirk Creek Insurance Services, LLC is a New York State licensed insurance broker BR-1917908. He can be reached at 929-456-2265. Visit www.kirkcreekinsurance.com for more information.